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ISSN : 2456-3676

Title:
CAUSAL RELATIONSHIP BETWEEN FINANCIAL SECTOR LIBERALIZATION AND AGRICULTURAL SECTOR OUTPUT IN NIGERIA

Authors:
Dr.Okuma, N. Camillus.

Abstract:
This study examines the Causal Relationship between Financial Liberalization and Agricultural Sector Output in Nigeria (AOG). Ex-post facto research design was employed and the annual time series data for various years were obtained from Central Bank of Nigeria (CBN) Statistical Bulletin. Unit Root Test, Engle -Granger Co- integration Test, Error correction Model (ECM) Test and Granger Causality Tests were employed in analyses. Prime Lending Rate, Deposit Rate, Exchange Rate, Money Supply as percentage of Gross Domestic Product and Liquidity Ratio are used as indicators of financial liberalization. Hence the study concluded that AOG leads financial liberalization in Nigeria and therefore recommends encouragement of privately owned cottage and micro firms that will be employing the skilled man power trained by the agricultural institutions and also make use of the agricultural sector output produced by the agro-firms as their raw materials.

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